Page 99 - VIRANSH COACHING CLASSES

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Balance Sheet as on 31 March 2019
Liabilities Amount Amount Assets Amount Amount
` ` ` `
Capital Fund 6,80,000 Cash in Hand 8,000
Add : Surplus 44,387 7,24,387 Cash in Bank 12,000
Entrance fees 20,000 Tution fees Receivable
Donations for Library 1,000 2017 - 18 2,000

Outstanding Salary 15,000 2018 - 19 5,000 7,000
of teachers Prepaid Rent 3,000
Laboratory 15,000
Building 6,00,000
Furniture 40,000
Add : Furniture Purchased 50,000

90,000
Less : 10 % Depreciation 7,750 82,250
Books 22,000
Add : Purchases 15,000
37,000
Less : 15 % Depreciation 3,863 33,137
7,60,387 7,60,387

Working Notes :
1) Calculation of Depreciation on Furniture `
a) 10 % Depreciation on ` 40,000 4,000

b) 10 % Depreciation on ` 50,000
for 9 months
10 9
50,000 × ×
100 12
3,750
7,750
Total Depreciation

2) Calculation of Depreciation on Books `

a) 15 % Depreciation on ` 22,000 = 3,300

b) 15 % Depreciation on ` 15,000
for 3 months
15 3
15,000 × 100 × 12 = 563

Total Depreciation 3,863

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